Lines of credit from the bank must be disclosed in the financial statements or in the notes.

Name: Lines of credit from the bank must be disclosed in the financial statements or in the notes.
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Question

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Lines of credit from the bank are considered a liability and must be disclosed in the financial statements or in the notes. This is to ensure transparency and provide stakeholders with a clear picture of the organization's financial position.

Lines of Credit from the Bank Must Be Disclosed in the Financial